Frequently Ask Questions
Financial Intelligence Units (FIUs) are central to combating financial crimes. Herein are the most frequently asked questions and responses thereto;
An STR is a report submitted to the FIU by an accountable institution where the latter suspects that funds, transactions or activities may be linked to money laundering, terrorist financing, proliferation financing or other criminal conduct.
An STR should be submitted immediately upon formulation of suspicion. Accountable Institutions should not wait until they obtain proof of criminal activity.
The FIU analyses the STR, may request additional information where necessary, and disseminates financial intelligence to competent authorities where appropriate
The FIU may provide general or strategic feedback and, where appropriate, institution-specific feedback. However, the FIU cannot disclose confidential operational information relating to ongoing analysis or investigations.